Xero offers great bookkeeping software from the Cloud. Like many cloud based software solutions, bookkeeping has been revolutionised – changing the way that people do business.
The thing is about Xero, it can be so much more than just bookkeeping software. And that’s why we have written this article. With the right set up and the right add ons, Xero can be effectively used to track billable hours and staff wages. This makes it easier to manage your payroll.
Xero is a cost-effective solution, no matter the size of your business. 1 staff member or hundreds, Xero can be set up to schedule staff and record all hours. You’ll get the most out of your team and make sure that you don’t overspend on wages.
Here are some of the reasons that you should use Xero to track hours, wages and payroll.
Updates are easy and can be managed from anywhere
There are many reasons that you may need to change schedules and update hours, but paper or non-cloud based solutions are notoriously inflexible and hard to update. It can be hard to alter shifts and keep track of which staff are working. This means more time on the phone, more time double checking and more time cross checking. A lot of this double handling is removed with a cloud-based solution like Xero.
Xero based tracking is less prone to error
With paper-based time sheets, people may forget to fill them in, or they may add a few minutes here and there (rounding to the nearest hours.) If they forget to write in their past shift they may overestimate the hours worked and this can lead to an inflated staff wage bill. You cannot monitor this behaviour with paper timesheets. Handwriting can also be hard to read and mean that you are prone to errors and overpayment.
Paperwork is much less labor intensive
It’s much less of a chore to keep track of staff hours with the right software in place. This means no laborious paperwork and more accurate data for your payroll. Staff may not need to fill in paperwork at all. With the right add-on software for Xero, all billable hours are tracked so that you accurately keep track of hours worked, all from a staff member’s mobile device.
There is less duplication from manual processing
With manual time tracking processes you may need staff to manage staff wages and payroll. With cloud based processes in Xero, you’ll likely still need staff to manage the process but the overall process will be less of a burden for these administration staff. Wages, payroll and even staff scheduling will be easier to manage.
If the convenience of tracking staff hours from Xero and the benefits this offers for the management of wages and payroll sounds like something you want to investigate for your business, please get in touch with the team at CBKBS Business Solutions so we can show you how this could work for your business.